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I think that cartel tried (it's called ICL), we all know it's a shipment of fail, which the BCCI snapped like a twig. Cash alone can't make such tournaments, it needs identity and recognition, and economic viability which India has.keep watching !!! Dawood & co will organize a parallel to IPL in UAE, funded by cash rich sheikhs!!!!
India has the wealthiest cricket board, has the largest base of audience, has national diversity on which teams can be built (like in the US, with their sports), and holding a cricket league is viable. No country is touching Pakistan (to play there) with a barge pole. UAE has just the two grounds, and they can't quite build leagues.
People in India are not going to sit and watch their players represent another team (if they did, English county cricket would have been popular (you have T20 county cricket too)). International (≠ league) cricket already exists, it's called ICC World T20, where players play for their countries. Without a strong-enough Indian audience, it won't fetch much cash for them. Aussies like rugby and getting drunk, English love football.
BCCI won't patronize a league parallel to IPL, without its patronage, that league won't succeed.